Bimbo Ponders Domestic, Overseas DCM

Though it is not in need of funds, Mexican baker Bimbo is keeping both sides of the border open as options for liability management operations this year. “We are taking advantage of our flexibility and making sure we have all of the doors open and be prepared for whichever option we choose,” investor relations director Armando Giner tells LatinFinance, noting that there are no specific plans to issue in either market. Bimbo expanded its domestic debt shelf to MXP20bn earlier this year, and is set to meet US and UK-based investors this week in non-deal presentations. It is on the road through June 22, with Bank of America Merrill Lynch, Barclays and HSBC. Fitch said Friday it assigned a BBB (positive) mark to the food producer, which followed positive outlook moves earlier in the week to the ratings from Moody’s and S&P. Bimbo hit the local markets last year for MXP10bn as part of a plan to reduce leverage following its acquisition of Weston Foods US assets. It has not issued a dollar bond since 1995, according to Dealogic.